Buffett/Berkshire - general news

[gfp]

6 hours ago, Libs said:

I've never understood this money management philosophy.  I see it my business ( RIA). For instance I've taken over accounts with massively appreciated MSFT stock. Why the hell would I stick the client with a big tax bill, just so can put my imprint 100% on the portfolio? But that's what happens, over and over again.

 

 

I agree on highly appreciated stock for sure.  I have one client account that came in with some Microsoft.  I've never done the work to check if it was IPO shares or a later purchase, but the cost basis is pretty low -

[ValueMaven]

Happy Apple $AAPL Dividend Day to Warren Buffett Warren Buffett's Berkshire Hathaway just received a dividend check for $205,881,319.79 from Tim Cook

[gfp]

14 minutes ago, ValueMaven said:

Happy Apple $AAPL Dividend Day to Warren Buffett Warren Buffett's Berkshire Hathaway just received a dividend check for $205,881,319.79 from Tim Cook

 

Don't short Warren, the last time someone tried to chisel him for an eighth of a point he took over their entire company.  Berkshire's check today was $210,578,888.

[John Hjorth]

@gfp,

 

The NEAM-thingy? Y related? -Or both?

[gfp]

1 minute ago, John Hjorth said:

@gfp,

 

The NEAM-thingy? Y related? -Or both?

 

From reverse engineering the math on 23 cents it looks like the author was using 895 million AAPL shares owned by Berkshire, where the current number is actually 915,560,382.  So that looks like NEAM shares omitted to me.  895m is the dataroma number.  CNBC portfolio tracker actually improved their game and has correct share counts now, which is nice -

https://www.cnbc.com/berkshire-hathaway-portfolio/

[DooDiligence]

Berkshire nerds 

[John Hjorth]

1 hour ago, DooDiligence said:

Berkshire nerds 

 

Agreed, Jeff [ @DooDiligence ],

 

I prefer calling it berkaholics. USD 206 M or USD 211 M, whatever, it's some serious money.

[Spekulatius]

On 2/14/2023 at 7:34 PM, Munger_Disciple said:

 

It is Warren's. Too big to be Ted/Todd's.

I thought about this over a can of cider last night and I think it makes sense that this is T or T (or both). The size is 60m shares * $68 or roughly $4B. I think this is doable for T&T. Maybe both bought it who knows.

 

it's similar to the CVX trade where Berkshire filed a buy in late 2020 and then shares were sold a quarter later. The whale buys came later and due to size are unquestionable Buffetts.

I think these swingtrades are T&T not Buffett. They seem to do those quite in size.

[Ulti]

[jbwent63]

I noticed the volume on OXY is quite high today, about double the normal and the price is in the $58's which is at or below BRK's last purchases of shares. Anyone think they are in there scooping up more shares? We will know in a few days as he has to file given the current ownership level.

Edited February 22, 2023 by jbwent63

[crs223]

BERKSHIRE HATHAWAY INC. NEWS RELEASE

FOR IMMEDIATE RELEASE

 

February 21, 2023

OMAHA, NE—Berkshire Hathaway Inc.’s 2022 Annual Report to the shareholders will be posted on the Internet on Saturday, February 25, 2023, at approximately 8:00 a.m. eastern time where it can be accessed at www.berkshirehathaway.com. Concurrent with the posting of the Annual Report, Berkshire will also issue an earnings release.

The Annual Report will include Warren Buffett’s annual letter to shareholders as well as information about Berkshire’s financial position and results of operations. The Annual Report will also include information regarding Berkshire’s Shareholders Meeting to be held on Saturday, May 6, 2023 and related events.

[Luke]

Bloomstran 2022 letter is out. 

 

[Luke]

If i look at his valuation and look at berkshires valuation, how it is known as a safe heaven, at current valuation something between 7-10% seems reasonable as a CAGR for the next 10 years. Its not a bargain but a very safe investment without spectacular but quite safe returns.

Edited February 24, 2023 by Luca

[Luke]

Bloomstran is very very pessimistic about the big tech stocks, i find his amazon/alphabet valuations lacking detail and ignoring a lot of perspectives. Fair enough though that it is in his ,,too hard pile,,. 

 

He trashes about whats going on at meta but we can also trash about his disney holdings which isnt a company with spectacular management in the last years. 

 

 

[Xerxes]

I did a CTRL-F search. He mentions “Newmont” exactly zero times in his letter. 
 

Newmont being a 5% position 

[Intelligent_Investor]

Imo Bloomstran is a hack. He is a better annual letter writer than actual investor and has made a bunch of fees heavily indexing into Berkshire which is by far his largest position.

[DooDiligence]

[longterminvestor]

1 hour ago, Intelligent_Investor said:

Imo Bloomstran is a hack. He is a better annual letter writer than actual investor and has made a bunch of fees heavily indexing into Berkshire which is by far his largest position.

OUCH!  At least he puts it out there for the world to see.  Gotta respect that.  

[Luke]

Mega excited for berkshire annual letter. I hope to catch some news about TSMC. Tomorrow we can read it whoohoooo!!!

[Xerxes]

1 hour ago, Luca said:

Mega excited for berkshire annual letter. I hope to catch some news about TSMC. Tomorrow we can read it whoohoooo!!!

 
 

I bet you will see 5x more references about Oxy than TSMC. Actually I think there would be no mention of TSMC

[Luke]

21 minutes ago, Xerxes said:

 
 

I bet you will see 5x more references about Oxy than TSMC. Actually I think there would be no mention of TSMC

Yeah probably, i still hope we will know a bit more about it

[Spekulatius]

8 hours ago, Luca said:

Bloomstran is very very pessimistic about the big tech stocks, i find his amazon/alphabet valuations lacking detail and ignoring a lot of perspectives. Fair enough though that it is in his ,,too hard pile,,. 

 

He trashes about whats going on at meta but we can also trash about his disney holdings which isnt a company with spectacular management in the last years. 

 

 

If you put a stock in the "too hard pile", you can't trash it.

That's what the "trash pile" is for.

 

Bloomstran clearly like spreadsheets. i think others made the point that why invest with him when you can just buy Berkshire or a combo of Berkshire stock and index fund and get the same result minus the fees.

Edited February 24, 2023 by Spekulatius

[Whensthepaintdry?]

It’s amazing how much controversy his brk valuations bring. I’ve seen people just today compare it with Sven’s valuation of 415 billion for a 10 percent or just book plus float. What is it with brk that brings such a huge range of valuations amongst value investors. It’s not like we are valuing a company with future unknown AI or something. 

[ValueMaven]

Let's hope BNSF is able to take some market share from UNP 

 

Union Pacific also has drawn scrutiny from the Surface Transportation Board, the regulator overseeing U.S. freight railroads. The STB in December held a hearing singling out Union Pacific’s soaring use of embargoes—restrictions that rail operators place on the amount of cargo that can be transported—that the regulator said had sparked complaints from shippers and worsened supply-chain issues.

 

https://www.wsj.com/articles/hedge-fund-seeks-ouster-of-union-pacific-ceo-cdf09e9e?mod=markets_lead_pos5

Soroban+-+Letter+to+Union+Pacific's+Board+of+Directors.pdf Soroban+-+Presentation+to+Union+Pacific's+Board+of+Directors.pdf

Edited February 27, 2023 by ValueMaven

[jbwent63]

On 2/16/2023 at 9:55 AM, John Hjorth said:

@gfp,

 

The NEAM-thingy? Y related? -Or both?

I didn't see an answer to this, so here goes. New England Asset Management was to my knowledge running some of GenRe's investments prior to its purchase by Berkshire. It appears that Warren has allowed them to continue to hold some of GenRe's equity investment allocation (most likely at Warren's direction due to changes made over the years in the GenRe equity held within NEAM). Not related to Alleghany at all.